Fiberglass Market Analysis, Growth Drivers and Upcoming Trends 2024-2032
IMARC Group has recently released a new research study titled “Fiberglass Market Report by Glass Product Type, Glass Fiber Type, Resin Type, Application, End User and Region 2024-2032”, offers a detailed analysis of the global fiberglass market growth, drivers, segmentation, opportunities, trends and competitive landscape to understand the current and future market scenarios. The market size reached US$ 12.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 17.6 Billion by 2032, exhibiting a growth rate (CAGR) of 3.88% during 2024-2032.
Fiberglass represents reinforced plastic materials made using glass fibers embedded in a resin matrix. They are mostly available in the form of glass wool, assembled and direct roving yarn, chopped strands, etc. Fiberglass products are cost-effective, lightweight, durable, corrosion-resistant, and offer high electrical insulation. They are more energy-efficient and ecologically sustainable as compared to conventional materials, such as steel and aluminum. As a result, fiberglass variants find extensive applications across numerous sectors, including automotive, construction, aerospace and defense, electronics, etc.
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Fiberglass Market Trends and Drivers:
The rising environmental concerns and the shifting preferences toward lightweight composite materials in various industries to reduce carbon footprints are among the key factors driving the market. The expanding construction of smart infrastructures and the increasing number of refurbishment and remodeling activities utilizing fiberglass products in floor coverings, windows, walls, panels, etc., to improve insulation and enhance structural stability are acting as significant growth-inducing factors. In line with this, the launch of favorable policies by the government bodies across countries aimed at promoting the development of sustainable, green, and energy-efficient buildings is also positively influencing the global market. The growing renewable energy segment and the escalating need for the product to manufacture several electrical equipment to harness safe and clean energy sources, which include wind and tidal, are further augmenting the market growth. The elevating employment of the product to manufacture body panels, battery boxes, panel assemblies, wheelhouse assemblies, front fascia, etc., of automobiles for reducing their weight to ensure higher fuel efficiency is expected to fuel the market over the forecasted period.
Competitive Landscape With Key Players:
The competitive landscape of the fiberglass market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Asahi Fiber Glass Co. Ltd. (Yoshino Gypsum Co. Ltd.)
- Braj Binani Group
- China Jushi Co. Ltd.
- Chongqing Polycomp International Corp. (Yuntianhua Group Co. Ltd.)
- Compagnie De Saint-Gobain S.A.
- Johns Manville (Berkshire Hathaway Inc.)
- Knauf Insulation
- Nippon Electric Glass Co. Ltd.
- Owens Corning
- PFG Fiber Glass Corporation (Nan Ya Plastics Corporation)
- Taishan Fiberglass Inc. (Sinoma Science & Technology Co. Ltd.)
- Taiwan Glass Industry Corporation
Key Market Segmentation:
The report has segmented the global fiberglass market based on glass product type, glass fiber type, resin type, application, end user and region.
Breakup by Glass Product Type:
- Glass Wool
- Direct and Assembled Roving
- Yarn
- Chopped Strand
- Others
Breakup by Glass Fiber Type:
- E-Glass
- A-Glass
- S-Glass
- AR-Glass
- C-Glass
- R-Glass
- Others
Breakup by Resin Type:
- Thermoset Resin
- Thermoplastic Resin
Breakup by Application:
- Composites
- Insulation
Breakup by End User:
- Construction
- Automotive
- Wind Energy
- Aerospace and Defense
- Electronics
- Others
Breakup by Region:
- Asia Pacific
- North America
- Europe
- Latin America
- Middle East and Africa
Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=3498&flag=C
Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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